Russian stocks mixed on Jun 29 oil price surge, US summit hopes

MOSCOW, Jul 2 (PRIME) -- The MOEX Russia Index rose on Monday on the back of a significant rise of oil quotations on June 29 and hopes laid on a possible meeting between Russian President Vladimir Putin and his U.S. counterpart Donald Trump, while the RTS fell as the ruble weakened, analysts said.

The MOEX Russia Index rose 1.02% to 2,319.31 and the RTS index decreased 0.22% to 1,151.66.

УThe Russian stock market has lived its own live today again and played the role of safe haven. Maybe, some people expect positive dynamics after a meeting between Trump and Putin, maybe this is just remaining euphoria from football in investorsТ minds. Although it would be wrong for the Russian market not to rise given the oil price, the ruble rate, and budget surplus,Ф Finam expert Vasily Oleinik said.

The Asian markets fell due to a decrease of the yuan. Investors are also worried by U.S. plans to quit the World Trade Organization, Oleinik said.

Otkritie Broker analyst Andrei Kochetkov said that the Russian market expected a return of non-residents. Russian investors are indifferent to the troubles in trade with the U.S. due to its low volume.

Oil companies were supported by a surge of oil prices of June 29, Kochetkov said.

MTS soared after clarifying the terms of a buyback from multi-industry holding Sistema.